Hillary Swank Clothiers had sales of $377,000 and cost of goods sold of $329,000.

a.	What is the gross profit margin (ratio of gross profit to sales)? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

Gross profit margin

%

b.	If the average firm in the clothing industry had a gross profit of 15 percent, how is the firm doing?

The firm is (Click to select)

under-performing or outperforming.